economicconfidential.com finance news headlines

FG's Revenue Surpassed Budgetary Target - Finance Minister The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the Federal Government's revenue for the first half of 2024 has surpassed its budgetary targets. Edun, who announced this at

Nigeria's Money Supply Nears N100trn in May Nigeria's money supply (M3) has surged to nearly N100 trillion, hitting a new peak of N99.24 trillion in May 2024. The latest money and credit statistics data from the Central Bank of Nigeria (CBN) reveals a month-on-month (M-o-M) incr

External Reserves Soars to $34 billion Nigeria's external reserve hit a new milestone in June, rising to $34.07 billion, the highest level since March 2024. This information comes from the Central Bank's external reserve position as of June 26, 2024. Last week, the external rese

Nigeria Exports N58.65b Electricity in Q1 2024 In the First Quarter 2024 Q1, Nigeria exported N58.65 billion electrical energy to African countries. The National Bureau of Statistics (NBS) made this known in its document titled: "Foreign Trade in Goods Statistics (Q1 2024)." </p

Nigeria Recorded N1.43tr VAT in Q1 The National Bureau of Statistics (NBS) said the aggregate Value Added Tax (VAT) stood at N1.43 trillion in Q1 2024. This is according to the VAT Q1 2024 Report released in Abuja on Tuesday. The report shows a growth rate of 19.21 per

EFCC Opens Case Against Sirika, Others Over Alleged N2.8bn Fraud The Economic and Financial Crimes Commission (EFCC) on Monday in a Federal Capital Territory (FCT), High Court, Maitama opened its case of alleged N2.6 billion fraud against former Aviation Minister, Hadi Sirika and three o

Govt Revenue Gets Boost with Indirect Taxes Doubling to N1.4tn Q1 Indirect taxes on Nigerian goods surged by 101.65 per cent to N1.42 trillion in the first quarter of 2024 from N705.04 billion in the same period last year, in a boost for government revenue but more pain for cit

Cybersecurity Levy Aimed at Financial Institutions, Telecoms, Not Individuals- Senator Buba Senator Shehu Umar Buba, the Chairman of the Senate Committee on National Security and Intelligence, has clarified that the recently imposed cybersecurity levy announced by the Central B

World Bank Yet To Consider FG's $2.25bn Loan Request - Wale Edun The World Bank is yet to consider the approval of the federal government's $2.25 billion loan application, which the government said would provide crucial support to Nigeria's economic recovery efforts amidst ongo